Autodesk Inc (NASDAQ:ADSK) shares rallied in early trading on Friday after the company reported upbeat fiscal second-quarter results.
Here are some analyst takeaways.
- Rosenblatt Securities analyst Blair Abernethy maintained a Buy rating, while raising the price target from $345 to $355.
- Goldman Sachs analyst Kash Rangan reiterated a Neutral rating, while lifting the price target from $300 to $320.
Check out other analyst stock ratings.
Rosenblatt Securities: Autodesk reported revenue of $1,763 million, up 17% year-on-year, topping consensus of $1,724.7 million, Abernethy said in a note. The transaction model shift contributed around 6% to revenue growth, he added.
The company reported non-GAAP earnings of $2.62 per share, beating consensus of $2.45 per share, the analyst stated. "With the solid Q2, Autodesk increased its FY26 revenue growth outlook to 9%-10% (up ~1% ex-model), with slightly improved operating margins of 37%," he further wrote.
Goldman Sachs: Autodesk delivered a stronger-than-expected outperformance in the second quarter, Rangan said. Revenues and earnings came in 2.2% and 7% higher than consensus, while free cash flows were higher by 103%, he added.
Autodesk experienced "continued momentum from the new Transaction Model," the analyst stated. While company has the ability to deliver on its goal of achieving operating margins of 41% by fiscal 2029, "we prefer to await further clarity around other elements of the long-term strategic framework (upcoming Investor Day on Oct. 7th)," Rangan further wrote.
ADSK Price Action: Shares of Autodesk had risen by 7.93% to $311.36 at the time of publication on Friday.
Read More:
• These Analysts Boost Their Forecasts On Autodesk Following Better-Than-Expected Q2 Results
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